Electrovaya Inc (ELVA) Fair Value & Analysis

Industrials · US · Market cap $516M

Below-average quality, and screening another 87% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($1.51). The favourable scenario is already priced in.
• Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range $1.93 – $12.26 · fair‑value band $0.8925 – $1.51 · the $9.71 price screens above the $1.22 fair value. Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Electrovaya Inc (ELVA) currently trades at $9.71, while our model-based Fair Value estimate is $1.22, implying the stock looks roughly 87.5% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Electrovaya Inc generated revenue of $71.2M at a net margin of 7.0%. Revenue grew 20.2% year over year. It earns a return on equity of 11.9%. Net debt stands at $16.2M. Fundamentals as of Jul 16, 2026

Our scenario range runs from $0.8925 (bear case) to $1.51 (bull case); at $9.71, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high and 212% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -87%, ELVA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth Earnings ($3.11) versus Asset-Based ($0.4200). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Electrovaya Inc. engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It operates infinity battery systems comprising of low and high voltage systems.

Full company description

Electrovaya Inc. engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It operates infinity battery systems comprising of low and high voltage systems. The company also operates solid state battery technology. In addition, it offers lithium-ion battery systems to power MHEV, including fork-lifts, as well as accessories, such as battery chargers to charge the batteries; lithium-ion batteries for robotic applications; lithium ion battery cell and modules for sales to OEM customers in the defense, construction, and other applications; high voltage battery systems for electric bus, truck, and defense applications; and industrial products for energy storage. The company was formerly known as Electrofuel Inc. and changed its name to Electrovaya Inc. in March 2002. Electrovaya Inc. was incorporated in 1996 and is headquartered in Mississauga, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Electrovaya Inc reported revenue of $63.6M in FY2025 versus $9.9M in FY2021, a compound +59.1%/yr. Reported net income was $3.4M in FY2025.

ELVA screens 87% overvalued. Compare with Contemporary Amperex Technology Co →

Peer Group

Electrical Equipment & Parts · 528 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.